Tag: Crypto
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South Korean Markets Reel Amid Political Chaos
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South Korea faces heightened market volatility as a deepening political crisis shakes investor confidence. Stocks and the won have nosedived, exacerbated by recent events tied to embattled President Yoon Suk Yeol. Kospi and Won Under Pressure The Kospi Index tumbled 2.8%, while the Kosdaq dropped over 5%, marking its lowest point since April 2020. Meanwhile,…
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After Ethereum hit $4,000, Justin Sun invested $119.7 million in HTX.
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Justin Sun, the founder of Tron, has gained attention for depositing 29,920 ETH, worth $119.7 million, into HTX. This comes as Ethereum’s price surpasses $4,000. Sun made a big investment by buying 392,474 ETH from February to August 2023. He paid an average of $3,027 for each ETH, totaling around $1.19 billion. Right now, Sun’s…
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OKX introduces a cryptocurrency wallet and trading platform in Belgium.
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OKX, a cryptocurrency exchange, has expanded its European operations by launching a trading platform and self-custodial wallet in Belgium. OKX Exchange and OKX Wallet are now officially open for customers in Belgium, OKX announced to Cointelegraph on Nov. 26. With newly launched services by OKX, Belgian customers can now access spot trading and convert more…
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FSOC Warns Stablecoins Pose Risks to Financial Stability
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The United States Financial Services Oversight Council (FSOC) has flagged stablecoins as a potential threat to financial stability in its 2024 annual report, citing vulnerabilities due to inadequate risk management frameworks. Stablecoins at Risk of ‘Runs’ The FSOC highlighted that stablecoins are “acutely vulnerable to runs” without appropriate safeguards in place. The council expressed concerns…
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Czech Republic Moves to Exempt Long-Term Crypto Holdings from Taxation
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Prime Minister Announces Major Tax Relief for Crypto Investors The Czech government has approved legislation to exempt cryptocurrencies held for more than three years from capital gains tax. Prime Minister Petr Fiala confirmed the move in a Dec. 6 statement, highlighting a series of crypto-friendly tax reforms. Under the proposed law, taxpayers will not need…
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Bitcoin Breaches $100,000 Mark, Setting New All-Time High
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BTC Hits $104,630 Amid Growing Market Optimism Bitcoin (BTC) has surged past the highly anticipated $100,000 milestone, reaching a record high of $104,630 on 5 December. The cryptocurrency’s 9% rally from its $95,000 support has marked another period of price discovery, popularly referred to as the “Santa rally,” as investors eye further gains before the…
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Trump Taps Paul Atkins as SEC Chief, Pledges Crypto-Friendly Future
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President-elect Donald Trump has nominated Paul Atkins as the new chair of the Securities and Exchange Commission (SEC), signalling a shift toward pro-business policies and looser regulation, particularly in the fast-evolving cryptocurrency market. A former SEC commissioner under President George W. Bush, Atkins is known for his conservative stance on financial regulation and his support…
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Bitcoin Breaks into the Top 10 Largest Currencies Globally
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Bitcoin, the pioneering cryptocurrency, has made history by becoming the world’s 10th largest currency by market capitalisation. With 19.8 million BTC valued at $2.04 trillion, Bitcoin’s meteoric rise cements its status as one of the most influential assets in global finance. A Remarkable Journey to the Top Since its inception in 2009, Bitcoin has grown…
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Dogecoin Price Surges 6% Amid Bullish Market Trends
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DOGE joins Bitcoin and Ethereum in a market-wide rally, with analysts pointing to technical and regulatory catalysts for the surge. DOGE Rises Alongside Bitcoin and Ethereum Dogecoin’s price has climbed 6% in the past 24 hours, trading at $0.4382 as of today, following a broader recovery in the cryptocurrency market. The total market capitalisation rose…
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A new stablecoin called BFUSD with an APY of 19.55% is being introduced by Binance.
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Binance introduced a new stablecoin tied to its ecosystem, BFUSD. The stablecoin offers up to 19.55% APY, with a limit on ownership and staking. Binance launched another native stablecoin, BFUSD, with a yield-bearing potential of up to 19.55% annualized. Binance itself reminded users that the actual asset has not yet launched or even been generated…